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International Accounting Standards Board (2009). NIIF 6 Exploración y Evaluación de Recursos Minerales. IFRS Foundation.

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Article

Analysis of the Impact of IFRS on Net Worth of Anonymous Companies

1Universidad Politecnica Salesiana, Ecuador


Journal of Finance and Accounting. 2018, Vol. 6 No. 1, 1-8
DOI: 10.12691/jfa-6-1-1
Copyright © 2018 Science and Education Publishing

Cite this paper:
Irene Buele, Esthefany Sarmiento, Diana Arce. Analysis of the Impact of IFRS on Net Worth of Anonymous Companies. Journal of Finance and Accounting. 2018; 6(1):1-8. doi: 10.12691/jfa-6-1-1.

Correspondence to: Irene  Buele, Universidad Politecnica Salesiana, Ecuador. Email: ibuele@ups.edu.ec

Abstract

The adoption of International Financial Reporting Standards (IFRS), for recording the economic and financial operations of companies worldwide, makes a great difference in the usefulness and applicability of accounting information. Before this process, the Superintendencia de Compañías, Valores y Seguros of Ecuador, has published resolutions for the gradual application to IFRS since 2009. The transition period began in 2010 and ended in 2012. The research analyzed the effects caused to the Net Worth in a group of Ecuadorian companies based on the Positive Theory of Accounting. This analysis determined that the most affected financial accounts in the Process of transition to Property were Plant and Equipment, Intangible Assets and Obligations with Non-Current Financial Institutions.

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